This week, transactions in the lead concentrate market remained sluggish, with some lead-zinc mines in high-altitude areas entering winter break early. Meanwhile, winter stockpiling raw materials ordered by some smelters in north China gradually arrived at the plants, and lead concentrate TCs in north China remained stable overall. In the imported ore trade market, lead concentrate TCs for January remained at -$160 to -$130/dmt. Silver prices experienced a correction this week, leading some smelters to adopt a brief wait-and-see approach. However, the medium and long-term bullish outlook for silver still caused the payable indicator for silver to rise slightly. As silver prices stabilized above 18,000 yuan/kg, some mines raised the payable indicator for silver in silver-lead ore containing over 3,500 kg/mt in physical content to 0.97, while the payable indicators for medium- and low-silver lead concentrates also increased slightly.
